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Société Générale has successfully implemented secured market transactions with the Bank of France, using digital securities and central bank digital currencies on the blockchain.
Société Générale, FranceIt completed the third largest bank by total assets after BNP Paribas and Credit Agricole blockchainRepo transaction based on the Banque de France, the French National Bank.
On December 13th press releaseThe French bank said that the deal includes bonds issued on the Ethereum currency (Ethereum) blockchain, which was used as collateral Central bank digital currency From the Bank of France.
According to the announcement, this is the first repo transaction with a central bank using digital securities, demonstrating how blockchain technology can facilitate interbank operations such as refinancing. It also emphasizes the ability of central bank digital currencies to enhance liquidity in digital financial markets.
“Société Générale deposited as collateral with the Bank of France certain bonds issued in 2020 on the public Ethereum blockchain in exchange for a CBDC issued by the Bank of France on its DL3S blockchain.”
Société Générale
This deal comes on the heels of Société Générale’s recent move towards blockchain through the issuance of digital green bonds. In December 2023 the bank Issued Approximately $11 million worth of unsecured preferred notes on the Ethereum blockchain, fully subscribed by AXA Investment Managers and Generali Investments. AXA Investment used Société Générale’s euro-denominated stablecoin, EUR CoinVertible, for the purchases, with the proceeds allocated to environmental projects.
The latest repo transaction was led by Societe Generale’s subsidiary SG-FORGE, which was founded in 2018 to support the issuance, management and settlement of digital assets, the bank said in the press release.
